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Who will be taking care of you and do they know it?


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Posted in adult day care, Alzheimer's, caregiver, Dementia, home care, long term care, Long term care insurance, nursing home, skilled nursing | Tagged , , , ,

5 Long-Term Care Myths Debunked

Baby boomers are turning 65 at a pace of 10,000 people per day and while most baby boomers in their 60s are healthy, the majority of Americans will begin to suffer health problems once they get into their 70s. Because diseases like cancer and Alzheimer’s disease strike later in life, most Americans will require long-term care at some point.

Let’s debunk some common myths about long-term care so that you can better prepare yourself for that eventuality.

No. 1: I won’t need long-term care

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Posted in Long term care insurance

Good news about coconut oil, melatonin and turmeric

Q. What are your views on turmeric for arthritis? What is the appropriate dosage?

A. Many readers have reported that turmeric helps their joint pain. A review of clinical trials found that turmeric-based products were better than placebos and about as effective as NSAIDs such as ibuprofen or naproxen (Journal of Evidence-Based Complementary and Alternative Medicine online, March 14, 2016). One study that showed benefit compared 1,500 mg of turmeric extract to 1,200 mg of ibuprofen per day (Clinical Interventions in Aging online, March 20, 2014). The researchers prepared the extract themselves to provide 250 mg of curcuminoids per dose. Since products vary, that dose is what you might look for.

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Posted in Long term care insurance, news | Tagged

What If Patients Decided How Their Nursing Home Would Run?

When asked how she feels about living at St. Camillus Health Center in Whitinsville, Mass., her home for 15 years, Alice Hallinan doesn’t hesitate. “I love it very much,” the 96-year-old says. “My daughter wants me to move closer to her, but no way I would leave.”

Read rest of story on Forbes


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Posted in Alzheimer's, Dementia, Long term care insurance, nursing home, skilled nursing | Tagged , , , ,

The Cost of Long Term Care Insurance Is Going Down in 2016!

In 2016, the average cost of a long term care insurance policy has gone down, according to The American Association for Long Term Care Insurance (AALTCI). For couples in their 60s, the policies cost 10% less than in 2015. Also, because of changes in coverage, today’s policies do not have the same risk of rate increases in the future.

Not all policies will cost less: for example, premiums for single women average about 7% higher than last year. And the cost of a policy can vary significantly from one insurer to the next for the same coverage. AALTCI says rates can vary by as much as 94% – so it’s important to do your research.

A good long term care insurance specialist can help you compare policies from many insurance companies.

Experts have suggested asking 3 questions to determine an insurance professional’s expertise:
1) How many years have you specialized in long term care planning?
2) How many LTCI policies have you sold?
3) How many different insurers do you work with?

For more information, visit Guide To Long Term Care


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Posted in Long term care insurance, long term care insurance premiums | Tagged , ,

LTC Insurance 2015 Tax Year deductible limits

The 2015 Tax Year deductible limits under Section 213(d)(10) for eligible long-term care premiums includable in the term ‘medical care’ are as follows:

Attained Age Before Close of Taxable Year:     
40 or less — $390   
More than 40 but not more than 50 — $730                             
More than 50 but not more than 60 — $1,460               
More than 60 but not more than 70 — $3,900             
More than 70 — $4870                                      


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Posted in Long term care insurance, long term care insurance premiums, taxes | Tagged

NY, CA, IN, CT Partnership Minimum 2016

New York Partnership Plus

To qualify for Partnership in New York, policies must meet the following minimum requirements:

2015
● $284 daily
● $8,804 monthly
2016
● $294 daily
● $9,114 monthly

*Monthly benefit amounts shown refer to the Monthly Home Care Maximum Rider and are only available for New York Partnership Plus. Non-partnership policies are still limited to $9,000 per month or less.



Indiana Partnership

The daily and monthly Partnership minimums for policies issued in Indiana will not change in 2016. These minimums will continue to be:
 $115 daily
 $3,500 monthly

The minimum total coverage amount for Total Asset Protection will change to $336,927. Please see the example below to calculate the total coverage amount. Choose a daily benefit amount above the minimum (currently $115 per day) and a Benefit Multiplier that result in a total coverage amount of $336,927 or more.

Example: $150 daily benefit amount x 2,250 Daily Benefit Multiplier = $337,500

Policies that do not meet the criteria for Total Asset Protection will receive dollar-for-dollar asset protection. Total Asset Protection also requires the purchase of 5% compound inflation protection.



California Partnership

To qualify for Partnership in California, policies must meet the following minimum requirements:

2015
•   $180 daily
•   $5,580 monthly
2016
● $190 daily
● $5,890 monthly

California requires 5% compound inflation protection for under age 70. California Partnership does not include reciprocity with other Partnership states at this time.



Connecticut Partnership

To qualify for Partnership in Connecticut, policies must meet the following minimum requirements:

2015
● $247 daily
● $7,513 monthly
2016
● $256 daily
● $7,787 monthly

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Posted in Alzheimer's, caregiver, Long term care insurance